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Crypto Biz: Because Venture Capital Is Just a Fancy Way of Saying Someone Will Pay You to Not Go Bankrupt Immediately

AltcoinsNewsRegulation/Negotiation 5 Sam Rogers August 19, 2024

An illustration of a businessman in a suit holding a briefcase with money spilling out as he steps into a pool filled with sharks wearing mining helmets, while another shark swims away with a bag labeled "venture capital" in its jaws; nearby, two other businessmen are shown swimming towards the surface, one carrying an anchor and the other waving a flag reading "independent board members"; above them, a large Bitcoin logo looms

The never-ending saga of cryptocurrency’s greatest hits: Bitfarms gets bought out by Riot Platforms because apparently that’s what happens when you’re a struggling mining firm – someone comes along and buys you for pennies on the dollar! And let me guess, this “broader strategy” to influence changes within Bitfarms includes making sure they don’t go bankrupt anytime soon? Meanwhile, Hamster Kombat is all like “No thanks, venture capital firms!” because who needs money when you have a player base that’s willing to participate in your meritocratic gaming experience.

Source: cointelegraph

Crypto Biz: Riot increases Bitfarms stake in takeover strategy
https://cointelegraph.com/news/crypto-biz-riot-increases-bitfarms-stake-takeover-strategy
The ongoing dispute between Bitcoin mining giants Riot Platforms and Bitfarms has taken a significant turn in recent days. On Aug. 13, Riot Platforms announced the acquisition of an additional one million Bitfarms common shares through open market purchases.  The acquisition increased Riot’s holdings to 85.3 million shares, up from 84.3 million, and was valued at approximately $2.28 million. As a result, Riot now holds an 18.9% stake in the […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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